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Bellagio Nightclub Owner Plans Low-Rise Condos

LAS VEGAS-The owner of the Light nightclub plans to break ground in January for a six-story, 147-unit condominium development southwest of the airport.

By Brian K. Miller | Updated on August 07, 2006

(To read more on the multifamily market, click here.)

LAS VEGAS-The owner of Light, a high-end nightclub within the Bellagio hotel and casino, is trying its hand at condominium development. The Light Group is planning to develop a low-rise, 147-unit condominium development on Rainbow Boulevard just south of Interstate 215, several miles southwest of the Strip. Completion is slated for December 2007.

Michael Rae, Light Group’s managing partner for the project, Spa Lofts, tells GlobeSt.com that 75% of the units have been reserved with soft deposits and he expects to have hard deposits on 80% of the units by January, when the project is scheduled to break ground.

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